- 毛利率代表著產品的競爭優勢, 要和同一個產業做比較. 如果毛利率很低的話, 就要看公司的營收規模是否夠大
- 毛利率從谷底回升, 或許就是開始反轉的訊號
- 營益率代表著公司的經營效率
- 在不大幅舉債的前提下, ROE可以看出公司的經營品質
- 穩定或持續提升的毛利率和營益率十分重要, 要當心持續下滑的毛利率和營益率
- 本業收入比高的公司, 才容易預估財測, 值得花心力去研究
- 無形資產佔總資產比高的公司, 可能代表這家公司是透過併購來成長. 但如果佔比高的不合理, 則要當心
- 併購後有沒有發揮1+1>2, 營益率是一個很好的觀察指標
- 要檢視ROE上升或下滑的原因, 根據杜邦分析不外乎是利潤率, 營收, 財務槓桿的增減
- 租賃業要觀察延滯率(在銀行稱為逾放比率)的變化. 如果越來越多客戶拖延還錢(延滯率上升), 就代表接下來放款的錢也會變少(放款率下降)
| 營業毛利率 QoQ YoY | 營業利益率 QoQ YoY | 稅前淨利率 QoQ YoY | 稅後淨利率 QoQ YoY | 股東權益報酬率 QoQ YoY | 資產報酬率 QoQ YoY | 總資產周轉率 QoQ YoY | EBITDA利潤率 QoQ YoY | 財務槓桿 QoQ YoY | 本業收入比 QoQ YoY | 業外獲益比 QoQ YoY | 用人費用率 QoQ YoY | |||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 23Q4 (20) | 19.67 | -1.4 | 17.71 | 5.03 | -22.02 | 283.97 | 1.66 | 472.41 | 159.5 | 0.91 | 468.75 | 185.05 | 0.31 | 416.67 | 188.57 | 0.56 | 16.67 | 124.0 | 0.11 | -15.38 | 0.0 | 20.39 | 23.05 | 28.56 | 202.96 | 2.92 | 7.43 | 313.33 | -85.76 | 778.89 | -206.67 | 90.16 | -241.4 | 27.59 | 9.27 | 7.9 |
| 23Q3 (19) | 19.95 | 23.76 | 12.08 | 6.45 | 161.13 | 27.98 | 0.29 | -57.97 | -93.72 | 0.16 | -64.44 | -94.86 | 0.06 | -64.71 | -95.52 | 0.48 | -2.04 | -33.33 | 0.13 | 0.0 | -7.14 | 16.57 | 0.12 | 2.54 | 197.20 | -1.04 | -2.9 | 2200.00 | 492.31 | 1919.67 | -2100.00 | -716.67 | -23420.0 | 25.25 | -10.27 | 10.89 |
| 23Q2 (18) | 16.12 | -19.96 | 38.61 | 2.47 | -42.82 | 152.04 | 0.69 | 133.17 | -69.33 | 0.45 | 117.18 | -40.79 | 0.17 | 120.73 | -55.26 | 0.49 | 600.0 | 53.12 | 0.13 | 18.18 | -13.33 | 16.55 | -0.12 | 58.98 | 199.28 | 10.49 | -14.06 | 371.43 | 275.94 | 748.98 | -257.14 | -182.65 | -557.14 | 28.14 | 6.55 | 13.24 |
| 23Q1 (17) | 20.14 | 20.53 | 100.0 | 4.32 | 229.77 | 747.06 | -2.08 | 25.45 | -160.12 | -2.62 | -144.86 | -211.49 | -0.82 | -134.29 | -165.08 | 0.07 | -72.0 | -87.27 | 0.11 | 0.0 | -35.29 | 16.57 | 4.48 | 28.95 | 180.36 | -4.54 | -15.59 | -211.11 | -357.41 | -1472.22 | 311.11 | 112.87 | 259.51 | 26.41 | 3.29 | 14.83 |
| 22Q4 (16) | 16.71 | -6.12 | 51.08 | 1.31 | -74.01 | 189.12 | -2.79 | -160.39 | 10.58 | -1.07 | -134.41 | 64.8 | -0.35 | -126.12 | 79.77 | 0.25 | -65.28 | 164.1 | 0.11 | -21.43 | -38.89 | 15.86 | -1.86 | 153.76 | 188.93 | -6.98 | -17.48 | -46.15 | -142.37 | -198.08 | 146.15 | 1736.92 | 176.07 | 25.57 | 12.3 | -14.62 |
| 22Q3 (15) | 17.80 | 53.05 | 361.14 | 5.04 | 414.29 | 162.3 | 4.62 | 105.33 | 177.13 | 3.11 | 309.21 | 170.68 | 1.34 | 252.63 | 170.9 | 0.72 | 125.0 | 244.0 | 0.14 | -6.67 | 0.0 | 16.16 | 55.24 | 421.29 | 203.10 | -12.41 | -0.93 | 108.93 | 148.98 | -19.35 | -8.93 | -115.87 | 74.54 | 22.77 | -8.37 | -16.78 |
| 22Q2 (14) | 11.63 | 15.49 | -31.26 | 0.98 | 92.16 | -82.75 | 2.25 | -34.97 | -11.76 | 0.76 | -67.66 | -71.32 | 0.38 | -69.84 | -72.66 | 0.32 | -41.82 | -49.21 | 0.15 | -11.76 | -21.05 | 10.41 | -18.99 | 16.97 | 231.87 | 8.52 | 21.03 | 43.75 | 184.37 | -80.29 | 56.25 | -35.0 | 146.12 | 24.85 | 8.04 | 32.46 |
| 22Q1 (13) | 10.07 | -8.95 | -31.54 | 0.51 | 134.69 | -68.71 | 3.46 | 210.9 | 264.21 | 2.35 | 177.3 | 49.68 | 1.26 | 172.83 | 117.24 | 0.55 | 241.03 | 61.76 | 0.17 | -5.56 | 6.25 | 12.85 | 105.6 | 22.97 | 213.66 | -6.68 | 44.78 | 15.38 | -67.31 | -91.09 | 86.54 | 63.46 | 218.99 | 23.00 | -23.21 | -22.35 |
| 21Q4 (12) | 11.06 | 186.53 | -50.49 | -1.47 | 81.83 | -111.96 | -3.12 | 47.91 | -131.42 | -3.04 | 30.91 | -140.0 | -1.73 | 8.47 | -135.52 | -0.39 | 22.0 | -119.4 | 0.18 | 28.57 | -28.0 | 6.25 | 101.61 | -56.54 | 228.95 | 11.68 | 91.53 | 47.06 | -65.16 | -62.11 | 52.94 | 250.98 | 324.64 | 29.95 | 9.47 | -4.98 |
| 21Q3 (11) | 3.86 | -77.19 | -85.55 | -8.09 | -242.43 | -142.6 | -5.99 | -334.9 | -134.72 | -4.40 | -266.04 | -130.7 | -1.89 | -235.97 | -110.12 | -0.50 | -179.37 | -108.31 | 0.14 | -26.32 | -65.85 | 3.10 | -65.17 | -84.11 | 205.00 | 7.0 | -11.55 | 135.06 | -39.15 | 22.72 | -35.06 | 71.25 | -248.7 | 27.36 | 45.84 | 17.63 |
| 21Q2 (10) | 16.92 | 15.02 | -32.72 | 5.68 | 248.47 | -9.84 | 2.55 | 168.42 | -61.71 | 2.65 | 68.79 | -53.99 | 1.39 | 139.66 | -72.37 | 0.63 | 85.29 | -71.62 | 0.19 | 18.75 | -44.12 | 8.90 | -14.83 | -35.32 | 191.58 | 29.81 | -4.56 | 221.95 | 28.5 | 135.16 | -121.95 | -67.68 | -2270.73 | 18.76 | -36.66 | -35.95 |
| 21Q1 (9) | 14.71 | -34.15 | -20.23 | 1.63 | -86.74 | 107.29 | 0.95 | -90.43 | 104.29 | 1.57 | -79.34 | 111.18 | 0.58 | -88.09 | 121.72 | 0.34 | -83.08 | 131.19 | 0.16 | -36.0 | 77.78 | 10.45 | -27.33 | 248.86 | 147.58 | 23.46 | 17.13 | 172.73 | 39.07 | 70.03 | -72.73 | -208.6 | -4481.82 | 29.62 | -6.03 | 0 |
| 20Q4 (8) | 22.34 | -16.36 | -21.64 | 12.29 | -35.28 | 2.08 | 9.93 | -42.43 | 9.72 | 7.60 | -46.96 | -2.69 | 4.87 | -73.93 | 47.58 | 2.01 | -66.61 | 23.31 | 0.25 | -39.02 | 31.58 | 14.38 | -26.29 | -4.64 | 119.54 | -48.42 | 7.07 | 124.20 | 12.86 | -6.05 | -23.57 | -134.36 | 26.82 | 31.52 | 35.51 | 5.42 |
| 20Q3 (7) | 26.71 | 6.2 | -4.71 | 18.99 | 201.43 | 18.1 | 17.25 | 159.01 | -22.85 | 14.33 | 148.78 | -9.13 | 18.68 | 271.37 | 89.07 | 6.02 | 171.17 | 25.94 | 0.41 | 20.59 | 36.67 | 19.51 | 41.79 | -28.22 | 231.77 | 15.46 | 89.99 | 110.06 | 16.61 | 52.86 | -10.06 | -278.99 | -135.91 | 23.26 | -20.59 | 15.61 |
| 20Q2 (6) | 25.15 | 36.39 | 35.29 | 6.30 | 128.19 | 155.31 | 6.66 | 130.09 | 140.78 | 5.76 | 141.03 | 147.88 | 5.03 | 288.39 | 172.48 | 2.22 | 303.67 | 168.94 | 0.34 | 277.78 | 21.43 | 13.76 | 296.01 | 279.63 | 200.74 | 59.32 | 90.49 | 94.38 | -7.09 | 35.74 | 5.62 | 453.93 | -81.56 | 29.29 | 0 | -10.92 |
| 20Q1 (5) | 18.44 | -35.32 | 0 | -22.35 | -285.63 | 0 | -22.13 | -344.53 | 0 | -14.04 | -279.77 | 0 | -2.67 | -180.91 | 0 | -1.09 | -166.87 | 0 | 0.09 | -52.63 | 0 | -7.02 | -146.55 | 0 | 126.00 | 12.85 | 0 | 101.59 | -23.16 | 0 | -1.59 | 95.07 | 0 | 0.00 | -100.0 | 0 |
| 19Q4 (4) | 28.51 | 1.71 | 0.0 | 12.04 | -25.12 | 0.0 | 9.05 | -59.53 | 0.0 | 7.81 | -50.48 | 0.0 | 3.30 | -66.6 | 0.0 | 1.63 | -65.9 | 0.0 | 0.19 | -36.67 | 0.0 | 15.08 | -44.52 | 0.0 | 111.65 | -8.48 | 0.0 | 132.20 | 83.62 | 0.0 | -32.20 | -215.01 | 0.0 | 29.90 | 48.61 | 0.0 |
| 19Q3 (3) | 28.03 | 50.78 | 0.0 | 16.08 | 241.18 | 0.0 | 22.36 | 236.93 | 0.0 | 15.77 | 231.09 | 0.0 | 9.88 | 242.36 | 0.0 | 4.78 | 248.45 | 0.0 | 0.30 | 7.14 | 0.0 | 27.18 | 454.83 | 0.0 | 121.99 | 15.76 | 0.0 | 72.00 | 3.55 | 0.0 | 28.00 | -8.1 | 0.0 | 20.12 | -38.81 | 0.0 |
| 19Q2 (2) | 18.59 | 0 | 0.0 | -11.39 | 0 | 0.0 | -16.33 | 0 | 0.0 | -12.03 | 0 | 0.0 | -6.94 | 0 | 0.0 | -3.22 | 0 | 0.0 | 0.28 | 0 | 0.0 | -7.66 | 0 | 0.0 | 105.38 | 0 | 0.0 | 69.53 | 0 | 0.0 | 30.47 | 0 | 0.0 | 32.88 | 0 | 0.0 |
| 營業毛利率 YoY | 營業利益率 YoY | 折舊負擔比率 YoY | 稅前淨利率 YoY | 稅後淨利率 YoY | 股東權益報酬率 YoY | 資產報酬率 YoY | 總資產周轉率 YoY | EBITDA利潤率 YoY | 財務槓桿 YoY | 本業收入比 YoY | 業外獲益比 YoY | 無形資產佔總資產比 YoY | 用人費用率 YoY | |||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 (10) | 18.90 | 39.18 | 4.56 | 142.55 | 12.79 | 42.38 | 0.19 | -91.56 | -0.21 | 0 | -0.30 | 0 | 1.58 | -16.84 | 0.48 | -18.64 | 17.48 | 29.1 | 202.96 | 7.43 | 2514.29 | 2917.14 | -2400.00 | 0 | 1.40 | -1.42 | 26.86 | 12.24 |
| 2022 (9) | 13.58 | 14.99 | 1.88 | 0 | 8.99 | 20.08 | 2.25 | 0 | 1.47 | 0 | 2.65 | 0 | 1.90 | 0 | 0.59 | -15.71 | 13.54 | 89.9 | 188.93 | -17.48 | 83.33 | 233.33 | 16.67 | -78.16 | 1.42 | 20.27 | 23.93 | -8.49 |
| 2021 (8) | 11.81 | -52.59 | -0.33 | 0 | 7.48 | 111.32 | -1.35 | 0 | -0.81 | 0 | -1.55 | 0 | -0.06 | 0 | 0.70 | -27.08 | 7.13 | -56.39 | 228.95 | 91.53 | 25.00 | -77.53 | 76.32 | 0 | 1.18 | -25.82 | 26.15 | -4.87 |
| 2020 (7) | 24.91 | -0.32 | 13.47 | 135.9 | 3.54 | -37.09 | 12.10 | 115.3 | 9.90 | 136.28 | 20.52 | 214.72 | 9.93 | 179.72 | 0.96 | 28.0 | 16.35 | 35.35 | 119.54 | 7.07 | 111.24 | 9.57 | -11.40 | 0 | 1.59 | -53.8 | 27.49 | 1.29 |
| 2019 (6) | 24.99 | 8.28 | 5.71 | -51.65 | 5.63 | 209.29 | 5.62 | -54.93 | 4.19 | -52.28 | 6.52 | -74.56 | 3.55 | -72.88 | 0.75 | -47.18 | 12.08 | -19.14 | 111.65 | 9.41 | 101.53 | 7.13 | -1.53 | 0 | 3.43 | -20.01 | 27.14 | 32.39 |
| 2018 (5) | 23.08 | -5.41 | 11.81 | 4.24 | 1.82 | -17.06 | 12.47 | 16.22 | 8.78 | 8.0 | 25.63 | 27.01 | 13.09 | 23.84 | 1.42 | 17.36 | 14.94 | 8.89 | 102.05 | -7.93 | 94.77 | -10.43 | 5.23 | 0 | 4.29 | 0 | 20.50 | -5.53 |
| 2017 (4) | 24.40 | -18.29 | 11.33 | -34.05 | 2.19 | 14.51 | 10.73 | -22.13 | 8.13 | -19.43 | 20.18 | 0 | 10.57 | 0 | 1.21 | 0 | 13.72 | -16.85 | 110.84 | 11.69 | 105.80 | -15.03 | -5.46 | 0 | 0.00 | 0 | 21.70 | -1.09 |
| 2016 (3) | 29.86 | 0 | 17.18 | 0 | 1.92 | 0 | 13.78 | 0 | 10.09 | 0 | 0.00 | 0 | 0.00 | 0 | 0.00 | 0 | 16.50 | 0 | 99.24 | 0 | 124.52 | 0 | -24.52 | 0 | 0.00 | 0 | 21.94 | 0 |
